/ - l4i-.  , i 


PRESIDENT,  MANAGERS  AND  COMP  ANA 


®rje  Belatoart  an?i  ScDuoiRtll  ©anal, 


THE  STOCKHOLDERS. 


JANUARY  16,  1837. 


P II  I L .A  D i:  L P II  I A : 

PRIlXTED  BY  WILLIAM  S T A V E L Y, 
No.  12  Pear  street. 

18,3  7. 


President. 


NATHANIEL  C.  FOSTER. 


Managers. 

Francis  R.  Wharton,  James  M.  Linnard, 

Henry  Toland,  Jacob  T.  Bunting, 

Thomas  D.  Grover,  Thomas  W.  Morris, 

Isaac  Starr. 

f 

Treasurer  and  Secretary. 

George  M’Leod. 


->1 


' ' ..  ; •■  ' ' ‘v;'' 

T.  .»>-  /,  J)fim 

rhf.  ‘S  'i^<‘!^I  A • ■ ' ;• 

/' ■ I' V-' !■■  ■'  “ ■ 

''  '.|’0':h|'F.’r  ,’'>i|fOrOr)  ; ■ ’ 

' ' ' ■ '■”  '~P  ’ -.X  ' ' '■  ■ ' 

'i  ■ ,^  ' . 


REPORT,  &c. 


TO  THE  STOCKHOLDERS 

OF  THE 

imtr  <Sciiuslfefll  O:ompang. 


At  the  first  Animal  Meeting  of  the  Stockholders 
of  the  Delaware  and  Schuylkill  Canal  Company, 
the  President  and  Directors  have  a peculiar  satisfac- 
tion in  adverting  to  the  increasing  favour  which  this 
channel  of  communication  is  gaining  in  the  public 
mind,  and  particularly  with  the  inhabitants  of  the 
districts  through  which  it  is  located.  For  many 
years  the  connexion  of  the  Delaware  and  Schuylkill 
waters,  in  the  immediate  vicinity  of  the  city  of  Phi- 
ladelphia, has  been  a favourite  project  with  our  citi- 
zens, and  although  attempts  have,  from  time  to  time, 
been  laid  aside,  or  proved  abortive,  from  misconcep- 
tion of  the  proper  mode,  yet  never  has  the  project, 
from  its  first  conception,  in  1804,  been  entirely  aban- 
doned. As  early  as  that  period,  the  necessity  for  an 
easy  and  cheap  means  of  transporting  the  Schuyl- 
kill produce  to  the  Delaware  front,  was  strongly 
impressed  upon  some  of  our  most  enterprising  and 
intelligent  citizens.  Although  for  so  many  years 
claiming  their  attention,  no  efficient  commencement, 
likely  to  be  pressed  to  a successful  completion,  has 


6 


been  made  prior  to  tjaat  which  this  report  now  an- 
nounces to  the  stockholders. 

In  the  incipient  stage  of  our  enterprise,  such  pains 
were  taken  in  the  selection  of  competent  skill  and 
experience,  and  such  care  in  the  exploration,  as  to 
guard  the  stockholders  against  disappointment  from 
the  impracticability  of  the  enterprise,  or  useless  ex- 
penditure, without  the  fairest  prospect  of  remu- 
neration for  their  outlay. 

The  feasibility  of  connecting  the  Delaware  and 
Schuylkill  fronts  of  Philadelphia,  by  a water  com- 
munication, at  such  cost  as  to  insure  a fair  and  even 
liberal  return  on  the  expenditure,  may  now  be  con- 
sidered settled ; and  the  progress  already  made  in 
the  work,  may  be  regarded  as  a sure  earnest  of  the 
intention  of  the  Company  to  carry  their  designs  for- 
ward to  completion. 

Under  the  direction  of  the  experienced  engineer 
appointed  by  the  Board,  the  work  was  commenced 
on  the  11th  of  August  of  last  year,  and  the  contractor 
for  the  work  has  exerted  an  ingenuity  and  persever- 
ance (during  part  of  the  time,  in  defiance  of  the 
elements,)  sufficient  conclusively  to  show  that,  if  the 
stockholders  are  but  true  to  their  own  interests,  no 
long  period  can  elapse  before  they  will  begin  to  reap 
the  returns  of  their  expenditure.  The  cutting  in 
the  canal  now  extends  3,300  feet  from  the  Delaware 
river,  crossing  Delaware  Fifth  street,  and  through 
a portion  of  the  line  that  may  be  considered  as 
difficult  as  any  on  the  route. 

In  looking  back  upon  the  various  designs  of  con- 
necting the  two  rivers,  from  time  to  time  entertained, 
we  cannot  fail  to  be  struck  with  one  obvious  remark, 
that  every  passing  year  more  and  more  points  to  the 


7 


increasing  value  of  the  project.  By  a reference  to 
the  report  of  the  Schuylkill  Navigation  Company, 
it  will  be  seen  that  the  total  amount  of  tonnage  pass- 
ing on  the  Schuylkill  in  the  year  1826,  amounted 
to  32,000  tons,  and  in  the  past  year,  1836,  to  631,000 
tons,  being  a rate  of  increase  per  year  of  60,000  tons 
of  produce  passing  between  the  city  of  Philadel- 
phia and  the  interior  of  the  state.  Of  this  large 
amount  of  trade,  by  far  the  greater  portion  is  on  the 
descending  navigation,  the  produce  chiefly  of  the 
Anthracite  coal  mines,  which  eventually  seeks  its 
market  on  or  by  the  Delaware.  Of  this  article, 
no  less  than  313,000  tons  was  shipped,  coastwise, 
during  the  last  year,  the  greater  portion,  if  not  all, 
of  which  would  probably  have  sought  a market 
through  the  canal,  if  it  had  presented  the  channel 
of  communication. 

Nor  on  this  head  need  any  fear  of  a diminution  be 
entertained.  The  whole  products  passing  the  Schuyl- 
kill are  composed  of  the  absolute  necessaries  of  life, 
and,  for  the  most  part,  are  not  consumed  in  our  city, 
but  seek  a market  elsewhere.  On  this  head  w e may 
well  quote  the  remarks  of  the  above  report : 

^‘The  trade,  it  must  be  remarked,  especially  on 
the  great  staple,  is  steadily  and  rapidly  progressive. 
The  measure  of  its  expansion  cannot  be  defined ; 
but  every  one  must  perceive,  from  the  continual 
augmentation  of  consumption  and  demand,  by  open- 
ing of  new  sources,  and  the  enlargement  of  old  ones, 
that  its  present  size  is  but  a feeble  earnest  of  the 
stature  it  is  finally  to  obtain.’’ 

There  can  be  little  doubt  that  the  far  greater  por- 
tion of  this  large  and  increasing  trade  would  be  car- 
ried to  the  Delaware  front,  by  means  of  the  canal 


8 


now  commenced.  The  difficulties  of  the  Schuyl- 
kill navigation  from  this  city  to  the  mouth  of  that 
stream,  are  a continual  source  of  annoyance  and 
delay  to  the  shipping  engaged  in  the  traffic  ; and  to 
such  a degree  does  it  exist,  as  to  make  the  difference 
of  twenty-five  cents  per  ton  in  favour  of  the  Dela- 
ware front  of  the  city,  of  loading  any  vessel  for  a 
northern  port. 

This,  of  itself,  might  be  cousidered  inducement 
sufficient  to  carry  the  descending  trade  of  the 
Schuylkill  through  the  canal ; but  to  this  must  be 
superadded  the  consideration  that  the  greater  por- 
tion of  the  descending  trade  must  be  taken  from  the 
Delaware  front,  at  an  expense  of  each  ordinary  boat 
load,  of  between  thirty  and  forty  dollars,  for  trans- 
portation from  river  to  river.  It  is  thus  seen  that, 
even  allowing  the  highest  rate  of  toll  to  be  charged 
for  passing  produce  through  the  canal,  the  shipper 
will  save  ten  cents  per  ton  on  the  descending  trade, 
and  more  than  double  that  amount  on  all  articles 
taken  from  the  Delaware  for  the  ascending  naviga- 
tion of  the  Schuylkill. 

As  a farther  motive  to  the  use  of  the  canal,  for 
both  the  trades,  we  may  advert  also  to  the  saving  of 
time,  a most  important  item  at  that  season  of  the  year 
when  the  coal-trade  is  most  thriving. 

A canal  boat  may  reasonably  be  expected  to  make 
the  passage  from  below  the  Permanent  bridge,  by 
the  canal,  to  the  Delaware,  in  three  or  four  hours, 
while  the  time  necessary  for  the  passage  from  the 
same  place  to  the  same  point  on  the  Delaware,  can- 
not be  estimated,  unless  under  very  favourable  cir- 
cumstances, at  less  than  two  days ; and  when  we 
add  to  this  the  saving  to  be  made  on  the  transporta- 


9 


tion  of  the  article,  we  cannot  be  considered  too  san- 
guine in  our  anticipations  of  a decided  preference 
being  given  to  this  mode  of  conveyance. 

» Assuming  that  two-thirds  of  the  descending  trade 
in  coal  alone,  and  one-third  of  the  remainder  should 
find  its  way  to  market  through  this  canal,  and  that 
one-third  of  the  ascending  trade  should  go  by  the 
same  channel,  we  have  an  amount  for  the  past  year 
of  354,000  tons,  probable  trade  of  the  canal ; this, 
at  the  rate  of  charges  allowed  by  law,  would  exceed 
an  income  of  13  per  cent,  on  the  cost  of  construc- 
tion. 

This  assumption  falls  below  the  amount  of  coal 
absolutely  exported,  although  it  might  be  reasonably 
expected  that  the  whole  export  of  this  article  would 
eventually  find  its  way  by  this  channel. 

But  it  would  be  stopping  short  of  an  enumeration 
of  all  the  advantages  of  this  improvement,  to  rely 
alone  upon  the  trade  of  the  Schuylkill,  or  the  arti- 
cles carried  through  to  the  Delaware  front,  for  the 
revenue  of  the  canal.  Many  articles  of  heavy  car- 
riage other  than  produce,  coming  through  the  Schuyl- 
kill canal,  will  find  their  way  by  this  route;  and  it 
cannot  be  reasonably  supposed  that  no  other  articles 
than  those  for  export  will  be  forwarded  by  its  means. 
The  brick-trade  in  that  section  of  the  county  is  al- 
ready of  large  amount,  and  constantly  increasing. 
This  article  will  be  wanted  to  a great  extent  at  such 
points  as  to  render  a water  carriage  desirable ; and 
the  same  remark  applies  to  the  supply  of  wood,  con- 
stantly required  in  their  manufacture.  The  expense 
of  their  transportation  from  place  to  place  enters  so 
largely  into  their  component  value  as  to  make  a 
water  communication,  for  this  purpose,  extremely 


10 


desirable,  and  it  cannot  be  doubted  that,  when  pre- 
sented, it  will  be  made  available  immediately  for 
that  purpose. 

Nor  is  it  proper  that  we  should  here  lose  sight  of 
that  portion  of  the  coal  and  other  trade  that  would 
be  likely  to  concentrate  along  the  line  of  the  canal, 
for  the  supply  of  the  adjoining  population. 

A great  portion  of  the  southern  section  of  the  city 
and  county  can  be  more  advantageously  supplied 
with  coal  and  other  products  from  the  Schuylkill, 
from  depots  along  the  canal,  than  from  any  other 
points  at  which  they  are  now  deposited.  We  can- 
not be  far  wrong  in  supposing  that  all  south  of  Pine 
and  east  of  Broad  street,  would  seek  their  supply  of 
Schuylkill  productions,  and  many  of  those  from  the 
Delaware,  at  depots  on  the  canal,  in  preference  to 
those  on  either  of  the  rivers;  more  especially  as 
those  products  can  be  brought  to  this  point  at  nearly 
the  same  expense,  and  stored  at  far  less  cost.  The 
cartage  from  any  point  along  the  line  to  southern 
parts  of  the  city  must  be  at  rates  considerably  below 
those  from  the  Schuylkill,  and  no  reason  appears 
why  one-sixth  part  of  our  population  would  not  seek 
their  supplies  rather  at  this  point  than  at  either  of 
the  city  fronts.  ‘ 

One  other  source  of  revenue  may  be  made  avail- 
able, consequent  upon  the  reduction  of  the  summit 
level,  viz: — the  supplying  of  a large  portion  of  the 
•southern  districts  with  water  from  the  Schuylkill ; 
the  engine  estimated  originally  for  the  supply  of  the 
canal  will  be  more  than  adequate  for  the  purpose,  at 
the  level  now  adopted.  Water,  of  at  least  as  good 
a quality  as  that  from  Fairmount,  and  with  more 
oertainty  in  the  supply,  could  be  furnished  from  the 


11 


works  of  the  Company,  should  it  be  thought  proper 
to  enlarge  its  operations,  by  a small  addition  to  the 
expenditures. 

Connected  with  this  subject  is  the  revenue  proba- 
bly derivable  to  the  Company  from  the  establish- 
ment of  depots  along  the  banks  of  the  canal.  The 
fronts  along  the  line  will,  of  course,  belong  to  the 
present  proprietors  of  the  lands  through  which  it  is 
made  ; but  in  many  cases  basins  will  be  wanted  for 
the  convenience  of  lading  and  unlading  boats.  The 
supply  of  water  for  these,  and  the  privilege  of  con- 
necting them  with  the  work,  will  be  a fair  subject  of 
yearly  charge,  and  will  be  a source  of  continual  in- 
come to  the  Company. 

But  it  would  hardly  become  us  to  conclude  this 
report  without  adverting  to  the  interests  that  will 
necessarily  be  advanced,  in  which  this  Company 
have  no  more  stake  than  the  general  one  shared  by 
the  entire  population  of  the  southern  districts.  The 
public  improvements  heretofore  have  gone  almost 
altogether  to  the  advancement  of  other,  and,  perhaps, 
more  highly  favoured  sections  of  the  county.  There 
appears  no  other  hindrance  to  as  rapid  an  improve- 
ment of  the  southern  as  the  northern  districts,  than 
the  want  of  a convenient  communication  with  the 
surrounding  country,  and  the  business  air  which 
easy  and  cheap  means  of  communication  impart  to 
every  locality.  These  will  be  furnished  in  a very 
satisfactory  manner  by  the  present  improvement, 
and  it  cannot  be  doubted  that  this  section  of  the 
city  will  be  rapidly  filled  with  an  active  and  thriv- 
ing population,  to  the  manifest  improvement  of  the 
value  of  property  generally,  and  especially  of  that 
in  immediate  contact  with  the  work.  To  the  inha- 


12 


bitants  and  property  situated  between  Broad  street 
and  the  Delaware,  on  the  south,  or,  more  properly, 
the  southwestern  section,  the  facility  of  obtaining 
supplies  of  coal,  iron,  &c.,  will  be  greatly  increas- 
ed, and  they  cannot  but  see  the  advantage  of  che- 
rishing, by  every  means,  the  interests  and  advance- 
ment of  the  Company. 

Along  the  Delaware  front  it  is  already  seen  that  a 
great  increase  in  the  value  of  the  lots  must  im- 
mediately follow  the  completion  of  the  work. 
Large  advances  have  been  already  offered  on  the 
price  of  lots  nearly  adjoining  the  canal  and  basin; 
and  it  is  hoped  that  the  very  liberal  conduct  of  the 
individual  who  granted  the  spot  for  the  debouche- 
ment,  free  of  charge,  to  the  Company,  will  be  more 
than  compensated  to  him  by  the  rapid  and  perma- 
nently increasing  advance  on  the  property  still  re- 
tained in  his  own  possession. 

It  will  be  seen  by  the  report  of  the  engineer,  here- 
with submitted,  that  the  reduction  of  the  summit 
level,  directed  by  the  Board,  has  not  increased  the 
estimated  cost  of  the  work,  at  the  same  time  that  it 
has  increased  the  capacity  of  the  canal,  besides  fur- 
nishing a supply  of  water  beyond  its  wants,  which 
may,  if  judged  advisable,  be  turned  into  a source  of 
permanent  revenue  to  the  Company.  We  would 
also  refer  to  the  same  document  for  a statement  of 
the  amount  of  work  done  upon  the  line. 

The  accounts  of  the  Treasurer  made  up  to  this 
date,  are  here  appended  : — 


13 


1836. 


Jan.  16.  Balance  on  hand, 

Received  during  the  year, 


$14,546  80 
18,507  60 


33,054  40 


The  payments  during  the 
year  amount  to 

1837. 


31,553  26 


Jan.  17.  Balance  on  hand, 


$1,501  14 


In  conclusion,  a steady  adherence  to  the  plans 
already  commenced,  and  an  unswerving  prompti- 
tude in  answering  the  pecuniary  calls  made  for  their 
completion,  are  strenuously  urged  upon  the  stock- 
holders, as  by  these  means  alone  can  an  improve- 
ment of  vast  importance  to  the  city  and  county  of 
Philadelphia,  and  of  unquestionable  profit  to  those 
concerned,  be  made  speedily  available  to  all. 

All  which  is  respectfully  submitted. 

NATHANIEL  C.  FOSTER, 

President, 


yV' 


Mr. 

% 


• Vi*-  ' ’■  "•  ” ' ' ■'  ■.  .'j"-'.:i«3^.!''^ 

:^r  fO'-V-!l'  £-*»7  VSaii.l';^ 


^11  !..1  ^6:  v„ 'I  '. 


i!!!l 


Vi 


-■  . . ' - ' ••  -’t*. . ' 

;u-  ; :,;-V!  'i'!^  > \ .•  4 r -'. i' 

' ••  rrt.  ^4.:}  4j  ) ' )f,i>--'f  :.1[ruy-iO':afi;';’  ia{.:|,|' 

' v ''^M-  4%r^- 


*1 


, . -*-^v  Jtlfpr,  ■.  ■.  ff/i; 

4.'-  , ■ - r 4-' ,v'  ■ , ' -i--  ' 'H 

ug^4  ,.  'TTft-:_,_,  „ V -4.; 

:■  '>'.'4  ' '■  ' ' ' ■ •“,'  '■ 

’ ' ' ■'■■  ’ •. ' ■ ' ■ . 4;  ■'  • Vri/  , ? '^;v''v  4— 

.'-  . •^■',  i , V’’;-  ■'  ■'’^M 


: r 4: '■4' ’ . ' ■ 4>.i  ^ 4 4k\  ■ V^'^t ..  ' 

. ■ 'i-H-- . .,r,  ■■  ..'  • • ■■'  't_,  ,'  . 

>.  , .-  ‘"tv  ; '/.  • ' : ':  .;  •'■^"'-  ' V 

«-"  • ■ • .W  y .''  c •’  «,' 


t 


UNIVERSITY  OF  ILLINOIS-URBANA 


II 

1 II  1 

II 

III 

3 011 

2 052 

560 

949 

O 


